Morningstar lifts Atlas Arteria's fair value, backs IFM offer

Atlas Arteria

24/06/2026 19:55

** Morningstar raises its fair value estimate for Australia's Atlas Arteria ALX.AX to A$5.10 per security, matching IFM Investors' takeover offer and reiterating recommendation for shareholders to accept the bid
** Atlas on Wednesday said the takeover offer has been extended to July 7
** Investment research firm says IFM is likely to extend offer period and may seek to build a larger stake in the toll roads operator rather than pursue full ownership
** However, once offer lapses, Atlas is likely to fall, Morningstar says, adding IFM could gain effective control and shift strategy on leverage and distributions in ways that may not favour remaining minority investors
** Morningstar adds Atlas faces "material headwinds," including higher French taxes, while concerns over potential fuel shortages linked to Middle East tensions could weigh on traffic volumes
** One of seven analysts rate the stock "buy" or higher, four "hold" and two "sell" or lower; their median PT is A$4.96, data compiled by LSEG 
** Stock up 4.5% YTD, as of last close

(Reporting by Roshan Thomas in Bengaluru)
((Roshan.Thomas@thomsonreuters.com;))